Common use of Specified Expenses Clause in Contracts

Specified Expenses. Each Expense Cap applies only to each Class’s aggregate monthly ordinary operating expenses and excludes Specified Expenses. Specified Expenses not covered by this letter agreement include: (i) the management fee; (ii) all fees and expenses of Private Market Assets in which the Fund invests (including the underlying fees of the Private Market Assets); (iii) transactional costs, including legal costs and brokerage commissions, associated with the acquisition and disposition of Private Market Assets and other investments; (iv) interest payments incurred on borrowing by the Fund; (v) fees and expenses incurred in connection with a credit facility, if any, obtained by the Fund; (vi) distribution and shareholder servicing fees, as applicable; (vii) taxes; and (viii) extraordinary expenses resulting from events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence, including, without limitation, costs incurred in connection with any claim, litigation, arbitration, mediation, government investigation or similar proceeding, indemnification expenses, and expenses in connection with holding and/or soliciting proxies for all annual and other meetings of Shareholders.

Specified Expenses. Each Expense Cap applies only to each Class’s aggregate monthly ordinary operating expenses (“Ordinary Expenses”) and excludes Specified Expenses. Specified Expenses not covered by this letter agreement include: (i) the management fee; (ii) all fees and expenses of Private Market Assets Credit and other investments in which the Fund invests (including the underlying fees of the Private Market AssetsInvestment Funds and other investments (the Acquired Fund Fees and Expenses)); (iii) the Incentive Fee; (iv) transactional costs, including legal costs and brokerage commissions, and sourcing and servicing or related fees incurred by the Fund in connection with servicing by non-affiliated third parties of, and other related administrative services associated with the acquisition and disposition of Private Market Assets and other the Fund’s investments; (ivv) interest payments incurred on borrowing borrowings by the FundFund or its subsidiaries; (vvi) fees and expenses incurred in connection with a any credit facility, if any, facility obtained by the FundFund or any of its subsidiaries, including any expenses for acquiring ratings related to the credit facilities; (vivii) distribution and shareholder servicing fees, as applicable; (viiviii) taxes; and (viiiix) extraordinary expenses resulting from events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence, including, without limitation, costs incurred in connection with any claim, litigation, arbitration, mediation, government investigation or similar proceeding, indemnification expenses, and expenses in connection with holding and/or soliciting proxies for all annual and other meetings of Shareholders.

Specified Expenses. Each Expense Cap applies only to each Class’s aggregate monthly ordinary operating expenses and excludes Specified Expenses. Specified Expenses not covered by this letter agreement Agreement include: (i) the management fee; (ii) all fees and expenses of Private Market Assets in which the Fund invests (including the underlying fees of the Private Market Assets); (iii) transactional costs, including legal costs and brokerage commissions, associated with the acquisition and disposition of Private Market Assets and other investments; (iv) interest payments incurred on borrowing by the Fund; (v) fees and expenses incurred in connection with a credit facility, if any, obtained by the Fund; (vi) distribution and shareholder servicing fees, as applicable; (vii) taxes; and (viii) extraordinary expenses resulting from events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence, including, without limitation, costs incurred in connection with any claim, litigation, arbitration, mediation, government investigation or similar proceeding, indemnification expenses, and expenses in connection with holding and/or soliciting proxies for all annual and other meetings of Shareholders.

Specified Expenses. Each Expense Cap applies only to each Class’s aggregate monthly ordinary operating expenses (“Ordinary Expenses”) and excludes Specified Expenses. Specified Expenses not covered by this letter agreement include: (i) the management fee; (ii) all fees and expenses of Private Market Assets and other investments in which the Fund invests (including the underlying fees of the Private Market AssetsAssets and other investments); (iii) transactional costs, including legal costs and brokerage commissions, associated with the acquisition and disposition of Private Market Assets and other investments; (iv) interest payments incurred on borrowing by the Fund; (v) fees and expenses incurred in connection with a credit facility, if any, obtained by the Fund; (vi) distribution and shareholder servicing fees, as applicable; (vii) taxes; and (viii) extraordinary expenses resulting from events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence, including, without limitation, costs incurred in connection with any claim, litigation, arbitration, mediation, government investigation or similar proceeding, indemnification expenses, and expenses in connection with holding and/or soliciting proxies for all annual and other meetings of Shareholders.

Specified Expenses. Each The Expense Cap applies only to each Classthe Fund’s aggregate monthly ordinary operating expenses and Other Operating Expenses, which excludes Specified Expenses. “Specified Expenses not covered by this letter agreement Expenses” include: (i) the base management feefee under the Advisory Agreement; (ii) all fees and expenses of Private Market Assets in which the Fund invests (including incentive fee under the underlying fees of the Private Market Assets)Advisory Agreement; (iii) transactional costs, including legal costs and brokerage commissions, expenses associated with the acquisition and disposition of Private Market Assets the Fund’s investments (whether or not consummated), including due diligence costs, legal costs and brokerage commissions, and sourcing and servicing or related fees incurred by the Fund in connection with the servicing of, and other investmentsrelated administrative services provided with respect to, the Fund’s investments (including expenses incurred by the fund in connection with the Services Agreement); (iv) interest payments incurred on borrowing borrowings by the FundFund or its subsidiaries; (v) fees and expenses incurred in connection with a any credit facility, if any, facility obtained by the FundFund or any of its subsidiaries, including any expenses for acquiring ratings related to the credit facilities; (vi) distribution and shareholder servicing fees, as applicable; (vii) taxes; and (viii) extraordinary expenses resulting from events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence, including, without limitation, costs incurred in connection with any claim, litigation, arbitration, mediation, government investigation or similar proceeding, indemnification expenses, and expenses in connection with holding and/or soliciting proxies for all annual and other meetings of ShareholdersMembers.

Specified Expenses. Each Expense Cap applies only to each Class’s aggregate monthly ordinary operating expenses and excludes Specified Expenses. Specified Expenses not covered by this letter agreement include: (i) the management fee; (ii) all fees and expenses of Private Market Assets and other investments in which the Fund invests (including the underlying fees of the Private Market AssetsAssets and other investments); (iii) the incentive fee; (iv) transactional costs, including legal costs and brokerage commissions, associated with the acquisition and disposition of Private Market Assets and other investments; (ivv) interest payments incurred on borrowing by the Fund; (vvi) fees and expenses incurred in connection with a credit facility, if any, obtained by the Fund; (vivii) distribution and shareholder servicing fees, as applicable; (viiviii) taxes; and (viiiix) extraordinary expenses resulting from events and transactions that are distinguished by their unusual nature and by the infrequency of their occurrence, including, without limitation, costs incurred in connection with any claim, litigation, arbitration, mediation, government investigation or similar proceeding, indemnification expenses, and expenses in connection with holding and/or soliciting proxies for all annual and other meetings of Shareholders.